Fed Holds Rates Steady, Three Officials Dissent Favoring a Hike
- The Federal Open Market Committee voted 9-3 on Wednesday to maintain the federal funds rate between 3.5% and 3.75%, marking the fifth consecutive hold despite internal pressure for higher rates.
- Persistent inflation has remained above the Fed's 2% target for more than five years, while conflict in the Middle East adds economic uncertainty, though officials noted that activity expands at a solid pace.
- Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan dissented, preferring a quarter-point increase as they have been most explicit about the need for higher rates.
- Markets largely expected the hold, though 76% of traders now foresee a rate hike in September; New Fed Chair Kevin Warsh declared he has "no tolerance" for elevated inflation.
- Bank of America analysts expect three quarter-point hikes this year, potentially reaching 4.25% to 4.5%, as policymakers await Thursday's Commerce Department data on economic growth and inflation measures.
163 Articles
163 Articles
Even though the Fed just held rates steady, savers can still lock in healthy returns
By Jeanne Sahadi, CNN (CNN) — As it has done at every meeting this year, the Federal Reserve Open Market Committee on Wednesday decided to leave the central bank’s key overnight lending rate unchanged. The Fed funds rate normally influences – directly or indirectly – movement in the interest rates consumers earn on their savings The post Even though the Fed just held rates steady, savers can still lock in healthy returns appeared first on KESQ.
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The first major decision at the Federal Reserve under new Chairman Kevin Warsh has come and gone, but little has changed. On Wednesday, the Fed announced that the interest rate would hold at between 3.5% and 3.75%, despite calls from Dallas Fed President Lorie Logan and others for a “modest” increase. ‘We will deliver price...
Sydney Morning Herald
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Oil prices jump following fighting with Iran, Wall Street swings after the Fed holds rates steady
Oil prices got back to jumping, while the U.S. stock market flipped between losses and small gains after the Federal Reserve opted not to raise interest rates. The S&P 500 slipped 0.1% Wednesday after briefly erasing all of an earlier…
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